Banks periodically send checking account statements to customers for each checking account that a customer may have with the bank. For instance, a checking account statement for a particular checking account held by a customer is typically sent to the customer on monthly cycles. Checking account statements usually contain information identifying each check written over a given period of time. This information includes the check numbers of all checks written from the account during the given period of time, the date that each check was received by the financial institution and/or issued by the customer to a payee, and the amount of transaction of each check.
Various prior art methods for extracting machine-printed text on checks exist that provide banks the ability to process checks and update checking accounts in an efficient manner. For example, magnetic readers provide banks with the ability to efficiently extract account number information printed on checks. Account number information is typically printed on checks using magnetic ink. Such account number information, which is typically printed along the lower portion of a check, may be printed either as a series of numbers or a bar code. As a check is provided to a bank for processing, a magnetic ink reader may read the magnetic ink to identify the account from which the check was issued. Another method for extracting machine-printed textual information on a check is optical character recognition. With optical character recognition, machine-printed text is read on each check using a scanner. The text is then compared in character-by-character fashion to a general lexicon of characters. The characters from the general lexicon that most closely resemble each scanned character are output to create an interpretation for the machine-printed text.
Although there exist computerized methods for extracting machine-printed text on a check, most banks use a combination of automatic and manual processes to extract handwritten numeric information on a check. For instance, an optical character recognition machine will first attempt to read the amount of the check. Subsequently, a financial institution employee will review each check not read by the machine and input the handwritten numeric information into a computing system programmed to process the information. Unfortunately, the above-described method for extracting information is unduly time-consuming and cumbersome, often resulting in an inefficient use of human resources. As such, additional handwritten text on a check, such as payee name and memo category information, is generally not extracted and used in generating an account statement in an effort to conserve human resources.
It is with respect to these considerations and others that the present invention has been made.